Leen Alkhair plans to issue SAR-denominated Murabaha sukuk

Logo of Leen Alkhair Trading Co.

Leen Alkhair Trading Co. announced plans to issue SAR-denominated sukuk under its SAR 20 million Murabaha Sukuk Program.

In a statement to Tadawul, the company noted that it appointed Dinar Investment Co. as the sole lead arranger for the purpose of establishing, issuing, and offering the sukuk.

For more news on listed companies

The issuance will take place as a public offering of SAR-denominated sukuk on the electronic platform run by Dinar Investment, which holds a license from the Capital Market Authority (CMA) to run a platform for debt instrument sale and investment.

Leen Alkhair pointed out that the offering’s objective is to enhance the working capital and capital expansions to support the company's operational activities and expansion purposes.

The offering is subject to the approval of the relevant regulatory authorities and will be conducted in compliance with applicable laws and regulations, the statement added.

The prospectus for the sukuk offering can be viewed on the website of the sole arranger, Dinar Investment, and will be announced at a later date.

The company emphasized the importance of reading the prospectus carefully and in full before making any investment decision related to subscribing to the sukuk.

Meanwhile, Leen Alkhair underlined that this announcement does not constitute an invitation or offer to purchase, own, or subscribe for any securities, noting that it will announce any other material developments in due course, in accordance with relevant laws and regulations.